 "Stock specific action to continue; Asia loses steam")
Markets are likely to start the November series on a muted note tracking weakness among the Asian peers as investors remain on their toes after the Bank of Japan's (BOJ) maintained a staus quo at the monetary policy review. Meanwhile, stock specific action is likely to continue on the bourses as the earnings season carries on.
Movement of rupee and crude prices along with FII stance are likely dictate the trend on the exchanges.
RESULT CALENDER
Apollo Tyres, Bharat Elestronics, ICICI Bank, IPCA Labs, ITC, L&T among others are set to announce their quarterly results today
STOCKS ON THE RADAR
Nestlé India’s net profit plunged 60% to Rs 124 crore in the September quarter from Rs 311 crore on a year-on-year basis.
Bharti Airtel has decided to sweeten the deal for its prepaid data customers that constitute 94% of its subscriber base. After offering free voice minutes to high-value 4G consumers, Airtel is now going after the not-so-creamy layer.
SpiceJet is likely to remain in focus after its Chief Operating Officer Sanjiv Kapoor resigned from his position.
HCL Technologiesacquired the Minneapolis-based Microsoft Dynamics CRM provider PowerObjects for $46 million (around Rs 301 crore).
NTPC posted a 40% rise in profit at Rs 2,898 crore for the quarter ending September, compared to Rs 2,072 crore during same period last financial year.
Glenmark posted a 19.8% jump in net profit for the September quarter, on the back of revenue growth in key markets.
Dr Reddy's Laboratories reported a 26 per cent increase in consolidated net profit at Rs 722 crore for the quarter ended September, on the back of higher sales growth and sustained product margins from the company's US generics business.
Colgate-Palmolive posted a 21.1 per cent increase on net profit to Rs 157 crore for the quarter ended September on Thursday versus Rs 130 crore a year ago.
Grasim reported a 17 per cent jump in its net profit to Rs 489 crore for the quarter ended September as compared to Rs 416 crore in the same quarter of last year.
Indian Oil Corporation has plans to expand supply of petroleum products to Nepal.
Pfizer Inc has held early talks with Botox-maker Allergan Plc to discuss what could be the biggest takeover deal this year, the Wall Street Journal and Financial Times reported.
Bharat Petroleum Corp is planning to launch an Initial Public Offering (IPO) of its Bina oil refinery next year, chairman and managing director S Varadarajan, said. IPO is the act of selling shares in a company for the first time.
Cipla sold its entire 25% stake in Biomab Holding Limited, a biosimilars development company in China to its majority owners for $ 25 million (about Rs 162 crore), the drug maker announced today.
Torrent Pharmaceuticals has posted a six and a half times rise in net profit to Rs 729 crore for the quarter ended September 30, 2015 on the back of a 78 per cent rise in total income on a standalone basis.
FMCG firm Emami reported 32.97 per cent decline in consolidated net profit at Rs 61.34 crore for the second quarter ended September 30, 2015 on account of amortisation of Kesh King intangibles.
Bharat Forge reported a flat profit after tax for the quarter at Rs 175 crore, compared to Rs 174.5 crore in the corresponding quarter last financial year. On sequential basis the company's net profit dropped 10.4% from Rs 195.4 crore.
GLOBAL STOCKS
Asian shares are trading lower on Friday as investors continue to remain cautious on the Federal Reserve stance. Meanwhile, all eyes are set on the Bank of Japan's (BOJ) monetary policy decision. Among the Asian peers Japan's Nikkei, Hong Kong's Hang Seng and China's Shanghai Composite dropped between 0.2-0.75.
On the Wall Street, the major indices ended with losses on dismal quarterly earnings amid hopes of an interent rate hike in December.
On the Wall Street, the major indices ended with losses on dismal quarterly earnings amid hopes of an interent rate hike in December.
